Medicare Advantage Plans: A Scam or a Viable Option?

Physicians for a National Health Program estimate, based on 2022 spending, that Medicare Advantage overcharges taxpayers by a minimum of 22% or $88 billion per year and potentially by up to 35% or $140 billion. By comparison, Part B premiums 2022 totaled approximately $131 billion, and overall federal spending on Part D drug benefits cost roughly $126 billion. A 2021 analysis from the Kaiser Family Foundation found that for a hospital stay of six days, most of those on Medicare Advantage would incur higher costs than they would with Original Medicare.

“Every year, tens of thousands of people enrolled in private Medicare Advantage plans are denied necessary care that should be covered under the program. Tens of millions of denials are issued each year for both authorization and reimbursements, and audits of the private insurers show evidence of” widespread and persistent problems related to inappropriate denials of services and payment,” an investigation found.”Every year, tens of thousands of people enrolled in private Medicare Advantage plans are denied necessary care that should be covered under the program. Tens of millions of denials are issued each year for both authorization and reimbursements, and audits of the private insurers show evidence of “widespread and persistent problems related to inappropriate denials of services and payment,” an…